IMPACT, a mobile Internet project accelerator, (Mobile Internet, Projects Accelerator), has launched.
Created by ISDI, b-ventures, Seaya Ventures and Teknologiudviking ApS, IMPACT is one of the 16 consortiums chosen by the European Commission within the framework of Seventh Program Framework.
It will select and accelerate startups associated with mobile Internet which can adopt these European digital technologies (FI-Ware y FI-Content).
The accelerator looks for entrepreneurs or startups that develop mobile apps or business models based on mobility in the communications areas, social, video, media & advertising; design, education, entertainment, ecommerce, peripheral devices, content, connected TV, infrastructure, security, productivity, finance, smart cities and social networks, among others.
IMPACT looks for two profiles of project to accelerate:
Start-up Phase: Projects with a working prototype available, valued at less than €1m and at least two founders working full time for the startup. Target market launch date is less than six months.
Growth Phase: Companies already present in the market for less than seven years with turnover below €2m, where the founders still own 51% of Shareholders’ Equity, and provide indicators proving an exponential growth potential. The target is its globalization or the consolidation of a change of business focus.
The accelerator will call and select European startups focused on mobile Internet. It will subsidize at least 64 startups up to €100k financing for each one without equity consideration, investing a total of €6.4m in 2 years. The cash will be disbursed in 3 installments throughout 6 months subject to the compliance of business milestones set specifically to each startup. Selected companies will start a 6-month program consisting of mentoring and training.
FinSMEs
24/07/2014